Colchicine Drugs Market

Colchicine Drugs Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027

Colchicine Drugs Market

Products in the global colchicine drugs market are used to prevent the gout attacks from occurring. They are not classified as common or ordinary pain relieving medications and need to be applied or administered under a certified doctor’s prescription. Available in various forms, products in the global colchicine drugs market are anti-inflammatory and anti-gout drugs that lessen the uric acid levels in the patient’s blood stream. Products in the global colchicine drugs market are available in the format of tablets, ointments, and capsules, among others. However, products in the global colchicine drugs market also find applications in numerous industries other than pharmaceutical and medical, such as chemical and agricultural. Rising geriatric population is resulting in increasing prevalence of gout attacks. This is anticipated to motivate the sales in global colchicine drugs market in coming years. On the other hand, fluctuations in the pricing of this drug can adversely affect the global colchicine drugs market in coming years.

Products in the global colchicine drugs market also find applications in the treatment of the Behçet's disease. However, significant risk of overdosing can impede the growth of the global colchicine drugs market in coming years. Risk of severe side effects such as low blood cells, rhabdomyolysis, and gastrointestinal upset can restrict the development of the global colchicine drugs market in the near future. Products in the global colchicine drugs market are also found to be effective for the prevention of atrial fibrillation post cardiac surgeries.

Colchicine Drugs Market - Introduction

Colchicine drugs are used to treat the symptoms of familial Mediterranean fever and gout. Colchicine was previously available as an unapproved inexpensive generic, by the FDA, but became patented in 2009 by brand-name Colcrys. Familial Mediterranean fever is a hereditary disorder that leads to recurrent episodes of fever. The fever is usually accompanied by pain in the abdomen, chest, or joints. It is typically diagnosed during childhood and occurs in people of Mediterranean origin — including those of North Jewish, Arab, Armenian, Turkish, African, and Greek or Italian ancestry. However, it can occur in any ethnic group. Gout is a form of inflammatory arthritis caused due to excess uric acid. Uric acid is produced in the body after metabolic breakdown of purine nucleotides. A recent study conducted in the U.S. indicated that the incidence of gout has doubled in the past 20 years.

Increase in incidence and prevalence of gout and other related disorders, rise in research and development expenditure, and surge in awareness among people are the factors contributing to the growth of the global colchicine drugs market. Moreover, ongoing clinical studies of colchicine drugs for application in other indications boosts the growth of the global market. For instance, the University College Dublin is conducting phase 3 studies of colchicine for the prevention of vascular inflammation in non-cardio embolic stroke.

However, side effects associated with colchicine and disappointing results of clinical studies hamper the growth of the global colchicine drugs market. Moreover, patent loss and launch of generic colchicine leads to sales erosion which further restrains the market. For instance, in July 2018, Par Pharmaceutical (part of Endo International plc) began shipping an authorized generic version of Takeda Pharmaceutical's Colcrys (colchicine) 0.6 mg tablets.

Colchicine drugs Market – Competitive Landscape

Takeda Pharmaceutical

Takeda Pharmaceutical Company Limited is a global pharmaceutical company engaged in the manufacture, marketing, and/or distribution of products in various therapeutic classes. The ethical drug segment is engaged in the manufacture and sale of anti-diabetic, cardiovascular, anti-cancer, respiratory, and immunology drugs and vaccines.Takeda has operations in more than 70 countries in regions such as North and South America, Europe, Asia Pacific, and the Middle East.

Endo International plc.

Endo Pharmaceuticals Inc. participates in the research and development, production, sale, and marketing of branded and generic pharmaceutical products primarily in the U.S. The company product portfolio includes comprises of; tablets, extended-release tablets, capsules, injections, clinical research services, and others. The company was founded in 1920 in Malvern, Pennsylvania, U.S. Until 1997 Endo Pharmaceuticals Inc. was known as Endo Laboratories LLC. New product launches is anticipated to assist the growth of the company in global colchicine drugs market during the forecast period. For instance, in July 2018, Par Pharmaceutical (part of Endo International plc.) began shipping an authorized generic version of Takeda Pharmaceutical's Colcrys (colchicine) 0.6 mg tablets.

Other key players operating in the global colchicine drugs market include ROMEG Therapeutics, Genpharma, Prasco Laboratories, Alkem Laboratories, Amneal Pharmaceuticals, Inc., and Zydus Pharmaceuticals, Inc.

Colchicine Drugs Market – Dynamics

Increase in incidence and prevalence of gout and other related disorders

Gout is a form of inflammatory arthritis caused due to excess uric acid. Uric acid is produced in the body after metabolic breakdown of purine nucleotides. The excess uric acid forms crystals in the body which eventually leads to deposition of uric acid crystals in joints, resulting in inflammation and pain. Gout is more prevalent in men than women. It is more prevalent in developed countries than other parts of the world. As of 2013, gout has affected around 5.8 million people, accounting for 1% to 2% of the total western population.

Rise in research and development expenditure, and surge in awareness is anticipated to drive the global Colchicine Drugs Market

Ongoing clinical studies of colchicine drugs for application in other indications boosts the growth of the global market. For instance, the University College Dublin is conducting phase 3 studies of colchicine for the prevention of vascular inflammation in non-cardio embolic stroke.

Side effects associated with colchicine and disappointing results of clinical studies hamper the growth of the global colchicine drugs market

Increasing incidence of side effects due to administration of colchicine are anticipated to hinder growth for global colchicine market during the forecast period. The major side effects of colchicine are muscle pain, weakness, numbness, pale appearance of tongue, lips, severe diarrhea, and others. Physicians recommends emergency medical assistance in case an individual has allergic reaction from colchicine such as hives, swelling, and breathing difficulty.